Tax-Free Savings Account
Tax-Free Savings AccountA Tax-Free Savings Account (TFSA) is a savings option that does not apply tax to the growth earned by the investment. This is unique from traditional savings accounts that does charge tax on the growth. Even in a Retirement Savings Plan (RSP) the growth is taxed when the money is withdrawn from the RSP. With a TFSA, no matter how much the investments earn, the growth will never be taxed.
Annual limit contribution: $6,000 per year*
- Flexibility and tax-free growth
- Unused contributions carried forward from year to year
- Contribution room is regained the year following a withdrawal
- Transferable to spouse/common-law partner upon death
- Does not affect eligibility for government sponsored retirement income programs
- Investment options that include a full range of funds and guaranteed interest options
Products that offer a TFSA
- Guaranteed Interest Account
- Pivotal Select
|Form Number||Cover||Marketing Material Name||Available Languages||Product|
Fidelity Investments funds for Pivotal Select File
The newly offered Fidelity® Investments funds for Pivotal Select™ segregated funds invest in underlying mutual funds. (Available in PDF only)
Choosing the right account type File
There is no simple answer to the question, where should I save my money?
Facts & Figures File
TFSA Contribution Limits, RRSP Contribution Limits, TOP Marginal Tax Rates, Retirement Income Fund Minimum, Canada Pension Plan Benefits. (Available in PDF only).
Make your money work for you File
We all know a Retirement Savings Plan (RSP) is a great way to save for retirement. We all know a Retirement Savings Plan (RSP) is a great way to save for retirement. When we make an RSP contribution we receive an immediate tax refund.
Tax-free money does exist, if you know where to look. File
The simple truth is that money accumulates over time.
Tax-Free Savings Account (TFSA) File
Whether your savings goals are short-term or long-term, a TFSA can help you fast-track your savings.
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|Tax-free means more savings
When you invest in a Tax-Free Savings Account (TFSA) you can save more and reach your goals faster. Because of the flexibility in a TFSA, most Canadians can benefit from having an account. Talk to your financial advisor to see if a TFSA can help you achieve your goals.
|The Tax-Free Savings Account can be a misunderstood savings tool
Considered by some to be a short-term investment, many of us do not value its long-term savings potential. If you’re in your 20’s, you have time on your side and are well positioned to make (or exceed) a million dollars of tax- free savings by retirement.
|How to choose between an RSP and a TFSA
For years Canadians have utilized Retirement Savings Plans (RSPs) as the primary investment vehicle for retirement savings. With the introduction of Tax-Free Savings Account (TFSA), there has been great debate over where to invest: RSP or TFSA? Although the two account types share some common traits, there are some key differences.